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200214260 TRANSFER OF RIGHTS IN T HE PROPERTY This Security Instrument secures to Lender: (i) the repayment of the Loan, and all renewals, extensions and modifications of the Note. and (ii) the performance of Borrower's covenants and agreements under this Security Instrument and the Note. For this purpose, Borrower irrevocably grants and conveys to Trustee, in trust, with power of sale, the fallowing descnbed property located in the LOU NTY of HAL L,r,g AS KA ypeo eco Ing unsc lcllon amen ecor Ing uru Ic ton LOT ONE (1) IN BLOCK FIFIFEN ( 1 5 ) IN W A L L I C I S ADDITION TO THE CITY OF GRAND ISLAND. HALL COUNTY, NEBRASKA. which currently has the address of 6 2 2 N O R 1 H . A S H I N 6 T 0 N Street ( R A N D I S L A N D , Nebraska 6 H H 0 1 ( "Property Address ") (City] [Zip Code] TOGETHER WITH all the improvements now or hereafter erected on the propert , and all easements, appurtenances, and fixtures now or hereafter a pan of the propert y. All replacements and additions shall also ae covered by this Security Instrument. All of the foregoing is referred to In this Security Instrument as the "Property." BORROWER COVENANTS that Borrower is lawfully seised of the eetato hereby conveyed and has the right to grant and convey the Property and that the Property is unencumbered, except for encumbrances of record. Borrower warrants and will defend generally the title to the Property against all claims and demands, subject to any encumbrances of record THIS SECURITY INSTRUMENT combines uniform covenants for national use and non - uniform covenants with limited variations by jurisdiction to constitute a uniform security instrument covering real property. UNIFORM COVENANTS. Borrower and Lender covenant and agree as follows: 1. Payment of Principal, Interest, Escrow Items, Prepayment Charges, and Late Charges. Borrower shall pay when due the principal of, and interest on, the debt evidenced by the Note and any prepayment charges and late charges due under the Note. Borrower shall also pay funds for Escrow Items pursuant to Section 3. Payments due under the Note and this Security Instrument shall be made in U.S. currency. However, it any check or other instrument received by Lender as payment under the Note or this Security Instrument is returned to Lender unpaid, Lender may require that any or all subsequent payments due under the Note and this Security Instrument be made In one or more of the following farms, as selected by Lender: (a) cash, (b) money order; (c) certified check, bank check, Ireasurer's chock or cashier's check, provided any such check is drawn upon an institution whose deposits are InsureJ by a federal agency, Instrumentality, or entity :. or (d) Electronic Funds Transfer. Payments are deemed received by Lender when received at the location designated in the Note or at such other location as may be designated by Lender in accordance with the notice provisions in Section 15. Lender may return any payment or partial payment if the payment or partial payments arc insufficient to bring the Loan current. Lender may accept any payrnent or partial payment Insufficient to bring the Loan current, without waiver of any rights hereunder or prejudice to its rights to refuse such payment or padial payments in the future, but Longoria not obllyated to apply such payments at the time such payments are accepled. It each Periodic Payment is applied as of its scheduled due date, then Lender need not pay interest on unapplied funds. Lander may hold such unapplied funds until Borrower makes flayment to bring the Loan current. It Borrower does not do so within a reasonable period of time, Lender shall either apply such funds or return them to Borrower. If not applied earlier, such funds will be applied to the outstanding principal balance under the Note Immediately prior to foreclosure. No offset or claim which Borrower might have now or in the future against Lender shall relieve Borrower from making payments due under the Note and this Security Instrument or performing the covenants and agreements secured by this Security Instrument. 2. Application of Payments or Proceeds. Except as otherwise described in this Section 2; all payments accepted and applied by Lender shall be applied in the following order of priorityy (a) Interest duo under the Note: (b) principal due under the Note: (c) amounts due under Section 3. Such payments shall be app led to each Periodic Payment in the order In which it became due. Any remaining amounts shall be applied first to late charges, socond to any other amounts due under this Security Instrument, and then to reduce the principal balance of the Note. It Lender receives a payment from Borrowerfor a delinquent Periodic Payment which includes a sufficient amount to pay any late charge due, the payment may be applied to the delinquent payment and the late charge. It more than one Periodic Payment Is outstanding, Lender may apply any payment received from Borrower to the repayment of the Periodic Payments if, and to the extent of one or more Periodic Payments, suuch excess may be atented to an late charges due Voluntary prepayments to shall be payment applied first to an prepayment charges and then as described in the Note. y g p y y Any application of payments, insurance proceeds, or Miscellaneous Proceeds to principal due under the Note shall not extend or postpone the duo date, or change the amount, of the Periodic Payments. 3. Funds for Escrow Items. Borrower shall pay to Lender on the day Periodic Payments are due under the Note, until the Note is paid In full, a sum (the "Funds ") to provide for payment of amounts due for (a) taxes and assessments and other items which can attain priority over This Security Instrument as a lien or encumbrance on the Property; (b) leasehold pa rnents or ground rents on the Property, if any:, (c) premiums for and and all inswanca required by Lender under Section 5: and (d) Mortgage Insurance premiums, if any, or any Burns payable by Orrower to Lender in lieu of the payment of Mortgage Insurance premiums in accordance with the provisions of Section 10 These Items are palled "Escrow Items." At Origination or at any time during the term of the Lon, Lender may require that Community Association Duos, Fees, and Assessments, it any be escrowed by Borrower, and such dues, tees and assessments shell be an Escrow Item Borrower shall promptly furnish to Lender all notices of amounts to be paid under hlis Section. Borrower shall pay Lender the Funds for Escrow Items unless Lender waives Borrower's obligation to pay the Funds for any or all Escrow hems Lender may waive Borrower's obligation to pay to Lender Funds for any or all Escrow Items at any time. Any such waiver may only he In writing. In the event of such waiver, Borrower Shall pay directly, when and where payable, the amounts due for any Escrow Items for which payment of Funds has been waived by Lender and, if Lender requires, shall furnish to Lender receipts evldoncing such payment within such time period as Lender may require. Borrower's obligation to make such payments and to provide receipts shall for all purposes be deemed 10 he a covenant and agreement eontainod In this Security Instrument, as the phrase "covenant and agroomenl" is used In Section 9. It Borrower Is obligated to pay Escrow Items directlyy, pursuant to a waiver, and Borrower tails to pay the amount due for an Escrow Item, Lender may exercise Its rights under Section 9 and pay such amount and Borrower shall than he obligated under Section 9 to repay to Lender any such amount. Lender may revoke the waiver as to any or all Escrow Items at any time by a notice given in accordance with Section 15 and, upon Such revocation, Borrower shall pay to Lender Fitt Funds, and In such amounts, that are then required under this Section 3 Lender may at any time, collect and hold Funds In an amount (a) sufficient to permit Lender to apply the Funds at the time specified under RESPA, and (b) not to exceed the maximum amount a tender can require under RESPA. Lender shall estgnate the amount of Funds due on the basis of current data and reasonable estimates of expenditures of future Escrow Items or otherwise in accordance with Applicable Law. (/�f NEBRASKA Single Family -F-rie MaeFreddie Mac UNIFORM INSTRUMENT FORM NSA 01101 (Yoga 2. ] pegrs) .p